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The D.C. Circuit Decision On The “Net Worth Sweep” Was Not A Clean Sweep For The Government

Jason Levine March 29, 2017
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Overlooked by much of the commentary on the D.C. Circuit’s recent decision on the Treasury Department’s “net worth sweep” are the contract claims remanded to the district court. Perry Capital LLC et al. v. Mnuchin et al., No. 14-5243, slip op. at 58-73 (D.C. Cir. Feb. 21, 2017). These claims warrant attention because they may result in sizable damages to investors in Fannie Mae and Freddie Mac securities, despite the dismissal of plaintiffs’ statutory claims for injunctive relief. [Read More]